Today we are keeping our promise to Canadians. We are putting in place better rules to protect our environment and build a stronger economy.

After 14 months of hearing from provinces and territories, Indigenous peoples, companies, environmental groups and Canadians across the country, we are making real changes. The legislation we are introducing today aims to restore public trust in how the federal government makes decisions about major projects, like mines, pipelines and hydro dams. These better rules are designed to protect our environment while improving investor confidence, strengthening our economy and creating good middle-class jobs.

They will also make the Canadian energy and resources sectors more competitive. We are working to build on the strong economic growth and record job numbers that we’ve seen since we’ve formed government. Our government understands the importance of the resource sector to our economy. Over $500 billion in major resource projects are planned across Canada over the next decade. These projects will mean thousands of well-paying jobs across the country, and they would provide an economic boost for nearby communities and our economy as a whole.

Through a new, early planning and engagement phase we will rebuild public trust by clarifying how to engage stakeholders and the public effectively

Changes made by the Harper government to how the environmental assessment system worked eroded public trust. This lack of trust resulted in polarization and paralysis. Projects stalled and resource development became a lightning rod for public opposition and court challenges, raising concerns for investors and shareholders. Weaker rules hurt both our environment and economy.

Through a new, early planning and engagement phase we will rebuild public trust by clarifying how to engage stakeholders and the public effectively, ensure the rights and interests of Indigenous peoples are addressed, and identify potential issues with project proposals upfront.

Identifying key issues early on will provide clarity on what’s required, and more certainty about the process ahead. It also means that we are able to reduce the timelines for the formal portions of a project review. Shorter legislated timelines for the project review phase will be rigorously managed to keep the process on track.

We will ensure that decisions on projects are transparent and guided by robust science, evidence and Indigenous traditional knowledge. We must respect the United Nations Declaration on the Rights of Indigenous Peoples, and will aim to secure free, prior and informed consent.

We will also reduce red tape and ensure consistency with a new agency, the Impact Assessment Agency of Canada

Project reviews will assess what matters to Canadians, and provide project proponents and investors with a clear, predictable and timely process.

We will also reduce red tape and ensure consistency with a new agency, the Impact Assessment Agency of Canada. It will work on the principle of one project, one review by co-ordinating the process with provinces and territories and Indigenous jurisdictions. The agency will also work with federal regulators to deliver a single, consistent and predictable assessment process.

We are creating the new Canadian Energy Regulator, based in Calgary, to replace the National Energy Board. It will reflect Canada’s changing energy needs and have an expanded mandate to review traditional and renewable sources of energy. Our goal is to have a new regulator with the required independence and the proper accountability to oversee a strong, safe and sustainable Canadian energy sector for the 21st century. To these ends, the new Canadian Energy Regulator will feature modern and effective governance, a more predictable process and timelines, more public engagement, greater Indigenous participation and stronger safety and environmental protections.

We will update, expand, and apply criteria to the project list to define the types of projects that will be subject to impact assessment, making it easier for everyone to understand when the new rules will apply, and providing certainty that both Canadians and companies need and expect. No longer will major products fly under the radar without an assessment. We are launching consultations on the criteria that we will use to revise the list.

The new rules proposed today must still be passed by Parliament. Until the new rules come into effect, existing laws and interim principles for project reviews will continue to apply to projects under review.

We know that the changes we are announcing today will not satisfy everyone. People who tend to distrust business and want no project to go ahead will say we’re doing too little to protect our environment. And those who want every project to go ahead whatever the environmental cost will say we’re doing too little to support resource development.

But the changes that we are announcing today deliver on a major campaign commitment and reflect what we heard from the majority of Canadians over the past year and a half. Canadians want a modern environmental and regulatory system that will protect the environment, attract investment and ensure good projects can go ahead in a timely way, creating new jobs and economic opportunities for the middle class.

Canadians understand that this will make us more competitive not less. Canadians know, as do smart businesses, that the environment and the economy go together.

Catherine McKenna is the federal minister of environment and climate change. Jim Carr is the minister of natural resources.